BAE Systems has completed the acquisition of Perimeter Internetworking Corp., which trades as SilverSky, a commercial cyber service provider.
The consideration of $232.5 million (approximately £144.4 million) has been funded from BAE Systems' existing cash resources, an official statement said.
SilverSky is a commercial cyber services and compliance provider, headquartered in New York, with operations in the US and the Philippines. The company currently employs approximately 400 staff and has over 5,000 customers. Ian King, Chief Executive, BAE Systems said, “SilverSky’s cloud-based email and network security solutions complement our existing portfolio and increase our presence in the United States, a very significant market for IT security. The enlarged business will offer customers an attractive suite of products and services to protect critical information and networks from the rapidly growing threat of digital crime.” SilverSky’s highly skilled sales, marketing and engineering workforce and experienced management team will join Applied Intelligence’s Commercial Solutions division, which will be led by SilverSky’s Chief Executive Officer, Tim Harvey.